if the points made in engdahl's article here below are accurate i suggest you prepare for a large depression soon;
Unusual remarks and actions by the outgoing head of the Bank
of England and other central banking insiders strongly suggest that
there is a very ugly scenario in the works to end the role of the US
dollar as world reserve currency. In the process, this would involve
that the Fed deliberately triggers a dramatic economic depression. If
this scenario is actually deployed in coming months, Donald Trump will
go down in history books as the second Hebert Hoover, and the world
economy will be pushed into the worst collapse since the 1930s. Here are
some elements worth considering.
Bank of England speech
The about-to-retire head of the very special Bank of England, Mark
Carney, delivered a remarkable speech at the recent annual meeting of
central bankers and finance elites at Jackson Hole Wyoming on August 23.
The 23-page address to fellow central bankers and financial insiders is
clearly a major signal of where the Powers That Be who run world
central banks plan to take the world.
Carney addresses obvious flaws with the post-1944 dollar reserve
system, noting that, “…a destabilising asymmetry at the heart of the
IMFS (International Monetary and Financial System) is growing. While the
world economy is being reordered, the US dollar remains as important as
when Bretton Woods collapsed.” He states bluntly, “…In the longer term,
we need to change the game…Risks are building, and they are
structural.”
What he then goes on to outline is a remarkably detailed blueprint for
global central bank transformation of the dollar order, a revolutionary
shift.
Carney discusses the fact that China as the world leading trading
nation is the obvious candidate to replace the dollar as leading
reserve, however, he notes, “…for the Renminbi to become a truly global
currency, much more is required. Moreover, history teaches that the
transition to a new global reserve currency may not proceed smoothly.”
He indicates that means it often needs wars or depressions, as he cites
the role of World War I forcing out sterling in favor of the US dollar.
What Carney finds more immediate is a new IMF-based monetary system to
replace the dominant role of the dollar. Carney declares, “While the
rise of the Renminbi may over time provide a second best solution to the
current problems with the IMFS, first best would be to build a
multipolar system. The main advantage of a multipolar IMFS is
diversification… “ He adds, “… When change comes, it shouldn’t be to
swap one currency hegemon for another. Any unipolar system is unsuited
to a multi-polar
world… In other words he says, “Sorry, Beijing, you must wait.”
The Bank of England Governor proposes in effect that the IMF, with
its multi-currency Special Drawing Rights (SDR), a basket of five
currencies—dollar, Pound, Yen, Euro and now Renminbi—should play the
central role creating a new monetary system: “The IMF should play a
central role in informing both domestic and cross border policies. …
Pooling resources at the IMF, and thereby distributing the costs across
all 189 member countries…” For that to work he proposes raising the IMF
SDR funds triple to $3 trillions as the core of a new monetary
system.
......................
http://www.williamengdahl.com/englishNEO1Sept2019.php